Australian solar panel installations are on the rise and have been predicted to create 10,000 solar jobs across the entire industry. Green Energy Markets’ monthly index tracks the amount of clean energy available in Australia. It also records jobs created, power bill savings and environmental benefits. Solar power makes up 17.3% of total renewable power production in Australia, according to the latest publicly available data from Green Energy Markets. This is enough energy to sustainably power 8.5 million homes.
The report estimated that about 19,000 gigawatt hours of renewable solar energy would be produced in 2020. This is equivalent to the entire energy consumption needs of Western Australia. Photovoltaic infrastructure needed to produce the 19,000 gigawatt hours is expected to be built to the capacity of an additional 3.5 Gigawatts.
In 2018, when the latest publicly available data is from, the amount of solar energy provided was equivalent to removing 9 million cars from the road: 2/3 of all Australian cars. Indeed, over the past decade, solar production has increased from 0.5% of the total grid’s needs to a staggering 5%. This has offered huge savings to consumers who have installed solar panels on their rooftop. In fact, home owners who invest in solar panels, on average $400 per year per kW of solar.
There has been a high volume of solar installations in the recent past too, according to another report by IEA. Despite the COVID-19 pandemic, the solar market has been resilient. The report predicted 7% growth over the 2020 year in the renewable energy sector. Global energy demand is predicted to shrink by 5%, yet strong growth in the renewables sectors is expected alongside infrastructure development and new contracts being dealt.
Moderate gains in utility-scale and distributed PV installations will begin in 2023 as both the small- and large-scale certificate programmes continue through 2030, and as improving grid conditions from planned new investments help reduce connection and curtailment challenges. However, with the projected generation target of the Large-scale Renewable Energy Target programme having been met already, PV projects will have to rely on merchant installations, corporate Power Purchase Agreements or state-level incentives, such as the New South Wales Renewable Energy Zones.
If you want to install solar panels at your home, please contact Essential NRG today. Our team has over 10 years’ experience completing solar jobs across Sydney and wider New South Wales. Call us on 0409 381 978 to book an inspection of your property and a quick quote for the work needed.